Living in the Mile High City isn't cheap. In fact, Denver has been listed as the 10th most expensive city for renters in the U.S.

New research from Point2 says that when it comes to homebuyers, Denver is the 13th most expensive place in the country — the median home price is $571,250 or $355 per square foot.

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Because of this, many residents are choosing to save money in the suburbs. Thankfully, Point2 puts Denver in ninth place for cities with the highest shares of affordable suburbs (it's at 80%).

So, what is the most affordable Denver suburb? The website awards that title to the Northern Colorado town of Firestone.

Firestone is about 30 miles north of Denver, and the town's website hails its various open spaces, numerous outdoor recreation opportunities, and low-crime culture. It's also home to the famous St. Vrain Christmas Walk.

Town of Firestone // Facebook
Town of Firestone // Facebook

According to Point2, the price of a home per square foot in Firestone is 43% less than in Denver, making it an ideal choice for those looking to be close to Colorado's capital without breaking the bank.

The website notes that Castle Rock, Commerce City, and Parker are the next most affordable picks, with median home prices at 42% per square foot.

RELATED: Denver Suburb Named One of the Best Places to Live in the U.S. 

On the other hand, living in the suburbs instead of Denver isn't always the cheapest choice.

KDVR reports that Cherry Hills Village, West Pleasant View, Superior, Lafayette, Louisville, Greenwood Village, Glendale, Edgewater, and Golden all have a higher cost of living than the Mile High City.

See more affordable (and some of the most expensive) places to live in Colorado in the galleries below.

LOOK: The 10 Most Affordable Places To Live In Colorado

People often choose to move to a particular area in order to live a certain way.

Colorado is unique in that, residents here have the ability to live different kinds of lifestyles (depending on what part of the state you choose to reside) - from small-town to big-city living, you can make up almost any life you desire here... but can you afford it?

Keep scrolling to find out where the most affordable places to live in Colorado in 2022 are, according to HomeSnacks:

Check Out the Top 15 Richest Towns in Colorado recently looked at U.S. Census data to see how many Colorado households are making over $200,000 a year. Read on to see their findings.